Japan’s Nikkei index grab my attention for couple of reasons.
1. The index stabilized above EMA200 which is happening for first time since 2007, trading above that EMA supports the view that maybe long term trend is turning UP.
2. EMA20&50 bullish cross confirms that mid-term trend is UP.
3. Large Speculators – as seen in Commitments Of Traders report are moving to NET LONG for first time since 2006.